Change in Goods and Services Tax (GST) Rate in Singapore

Effective from January 1, 2024, the GST rate will be adjusted from 8% to 9%.

For any standard-rated supplies of goods or services that you provide on or after January 1, 2024, you must charge a GST rate of 9%. For example, if you issue an invoice and receive payments for your supply on or after January 1, 2024, you are required to account for GST at a rate of 9%.

If your business is registered for GST and is subject to the reverse charge mechanism (RC business), you must account for GST at a rate of 9% on the services you procure from overseas suppliers (imported services) on or after January 1, 2024.

Source: Inland Revenue Authority of Singapore (IRAS)